How Did the Market Value of Seven Leading Companies Surge by Rs 2.31 Lakh Crore?

Synopsis
Key Takeaways
- Seven top companies increased their market valutation by Rs 2.31 lakh crore.
- Positive investor sentiment played a key role in the market rise.
- HDFC Bank, Bharti Airtel, and ICICI Bank led the gains.
- Three companies experienced valuation declines.
- The BSE index rose by 1.62% over the week.
Mumbai, May 4 (NationPress) In a thriving week for the Indian stock market, seven out of the top ten most valuable companies witnessed a remarkable rise in their market valuations, totaling Rs 2.31 lakh crore. The positive sentiment in the equity market significantly contributed to these gains.
The companies that saw an uptick in their market value include HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India (SBI), Infosys, ITC, and Tata Consultancy Services (TCS).
Conversely, Bajaj Finance, Hindustan Unilever, and TCS experienced a decline in their valuations over the week.
The Bombay Stock Exchange (BSE) benchmark index rose by 1,289.46 points, or 1.62 percent, during the week, even with the market closure for Maharashtra Day on Thursday.
Among the gainers, HDFC Bank reported an increase of Rs 11,514.78 crore, elevating its total market cap to Rs 14,73,356.95 crore.
Bharti Airtel added Rs 20,755.67 crore, pushing its valuation to Rs 10,56,029.91 crore. ICICI Bank saw its market value rise by Rs 19,381.9 crore, reaching Rs 10,20,200.69 crore.
Infosys gained Rs 10,902.31 crore, with its market capitalization reaching Rs 6,25,668.37 crore.
ITC added Rs 2,502.82 crore, lifting its valuation to Rs 5,38,294.86 crore. Meanwhile, SBI increased its market value by Rs 1,160.2 crore, totaling Rs 7,14,014.23 crore.
However, three companies reported drops in their market capitalisation. Bajaj Finance lost Rs 15,470.5 crore, lowering its valuation to Rs 5,50,726.80 crore.
Hindustan Unilever experienced a decline of Rs 1,985.41 crore, bringing its market value down to Rs 5,45,845.29 crore.
TCS lost Rs 1,284.42 crore, concluding the week with a valuation of Rs 12,45,996.98 crore.
Despite these fluctuations, the most valuable companies in India include HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and ITC.
In the previous week, the combined market value of six of India's top 10 most valued companies surged by Rs 1,18,626.24 crore.